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作者：Tomy, Rimmy E.; Wittenberg-Moerman, Regina
作者单位：University of Chicago; Northwestern University
摘要：Traders operating in informal economies tend to use nonaccounting metrics in their credit allocation decisions. By using a combination of survey questions and a hypothetical choice experiment, we explore wholesalers' preferences for retailers' accounting information and, importantly, the reasons for its limited use. Based on estimates of wholesalers' willingness to pay for retailer information, we find that, although wholesalers continue to value nonaccounting information such as retailers' co...
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作者：Besbes, Omar; Ma, Will; Mouchtaki, Omar
作者单位：Columbia University; New York University
摘要：How should one leverage historical data when past observations are not perfectly indicative of the future, for example, because of the presence of unobserved confounders which one cannot correct for? Motivated by this question, we study a data-driven decision-making framework in which historical samples are generated from unknown and different distributions assumed to lie in a heterogeneity ball with known radius and centered around the (also) unknown future (out-of-sample) distribution on whi...
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作者：Glover, Jonathan; Kim, Eunhee
作者单位：Columbia University; City University of New York (CUNY) System; Baruch College (CUNY)
摘要：We study optimal workforce and contract design for a firm that employs a team of two agents. The agents have possibly diverse demographic characteristics captured by their discount factors. When both agents have relatively low discount factors (impatient agents), the optimal contract is designed to foster cooperation, whereas when both agents have relatively high discount factors (patient agents), the optimal contract is designed to both foster cooperation and prevent collusion. In preventing ...
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作者：Eckbo, B. Espen; Su, Xunhua; Thorburn, Karin S.
作者单位：Dartmouth College; Norwegian School of Economics (NHH)
摘要：While it is standard for corporate bonds to include a loan cancellation fee, a surprising 90% of tranche A commercial and industrial term loans allow borrowers to prepay the loan without penalty. We use a simple framework with dynamic learning to derive testable implications for the required bank compensation when including a penalty-free prepayment option. In this framework, after loan origination, borrowers receive noncontractible public information about the value of the project funded by t...
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作者：Palmeira, Mauricio; Polman, Evan
作者单位：State University System of Florida; University of South Florida; University of Wisconsin System; University of Wisconsin Madison
摘要：People often consult experts to provide solutions to their problems. Oftentimes, an initial attempt to solve a problem fails, and these experts (e.g., advisors, consultants, specialists, and service providers) will resort to a backup plan. A backup plan can be presented when it is needed (i.e., after an initial failure) or in advance (i.e., before a potential failure). We examine how the timing of disclosure of a backup plan affects judgments of an expert's competence. We show that although pe...
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作者：Hu, Yiqun; Liu, Limeng; Simchi-Levi, David; Yan, Zhenzhen
作者单位：Nanyang Technological University; Massachusetts Institute of Technology (MIT)
摘要：A mixture of multinomial logits (mixed multinomial logit (MMNL)) generalizes the multinomial logit model, which is commonly used in modeling market demand to capture consumer heterogeneity. Although extensive algorithms have been developed in the literature to learn MMNL models, theoretical results are limited. Built on the Frank-Wolfe (FW) method, we propose a new algorithm that learns both mixture weights and componentspecific logit parameters with provable convergence guarantees for an arbi...
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作者：Keyvanshokooh, Esmaeil; Zhalechian, Mohammad; Shi, Cong; Van Oyen, Mark P.; Kazemian, Pooyan
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of Miami; University of Michigan System; University of Michigan; University System of Ohio; Case Western Reserve University
摘要：Optimizing the treatment regimen is a fundamental medical decision-making problem. This can be thought of as a two-dimensional decision-making problem with a nested structure because it involves determining both the optimal medication and its optimal dose. Identifying the most effective medication for an individual often poses considerable difficulty, and even when a suitable medication is ascertained, dosing it optimally remains a significant challenge. Making these two nested decisions neces...
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作者：Berkowitz, Daniel; Boslett, Andrew J.; Brown, Jason P.; Weber, Jeremy G.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Amazon.com; Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We use the origins of fracking to study how people respond to a large and uncertain permanent income shock. Following the arrival of news in 2003 that fracking was commercially viable, the average person owning rights to natural gas deposits in the Barnett Shale could plausibly expect to earn a present value of about $33,000 from leasing the rights to energy firms. Anticipating the income, people who signed leases after 2006 borrowed $5,400 more than nonleaseholders as of 2006. Leases not yet ...
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作者：Hu, Jinshuai; Hung, Mingyi; Li, Siqi
作者单位：Xiamen University; Hong Kong University of Science & Technology; Santa Clara University
摘要：We study whether and how standardized gender diversity disclosure requirements affect women's representation on corporate boards. Our analysis takes advantage of Canada's 2014 regulation, which requires disclosures of consistent and comparable information on boards' gender diversity policies and guidelines. Using a difference-in-differences design, we find that the disclosure regulation increases women's representation on boards. The increase is more pronounced among firms with stronger shareh...
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作者：Serra-Garcia, Marta; Gneezy, Uri
作者单位：University of California System; University of California San Diego; Leibniz Association; Ifo Institut
摘要：Can algorithms help people detect deception in high-stakes strategic interactions? Participants watching the preplay communication of contestants in the TV show Golden Balls display a limited ability to predict contestants' behavior, whereas algorithms do significantly better. To increase participants' accuracy, we provide them with algorithmic advice by flagging videos for which an algorithm predicts a high likelihood of cooperation or defection. We test how the effectiveness of flags depends...
